First off Snook - Quit calling yourself a moron. That just aint right. I would prefer you call yourself Black Powder Challenged...
Now, to try and answer your questions as simply as possible:
1. The bullets all seem the same to me except for sabot vs. powerbelt types. What is the fundamental difference between the two and which one works better performance wise.
A: Except for the lead ones, a Powerbelt is a jacketed bullet. Both have a 'skirt' which acts as a gas sealant upon firing to prevent blow-by (gasses moving past and around the bullet). Saboted bullets are bullets that are smaller diameter than the bore and use a sabot much like the shot wad in shotshells to fill the gap around the bullet. Sabots can generally be shot at faster velocities because of their lighter weight.

2. In my 30-06 i shoot a 165 grain bullet that blows the other side out of 200 pound hogs. Why do the muzzleloaders need up to 400 grain bullets? It seems like I am throwing a baseball at them.
A: Simple law of physics ( E=M(C*C) ) A slower bullet must be heavier to aproach the energy of a lighter faster bullet. Another way of putting it - Try hitting an open door with the tip of your index finger and see how far it moves. Then, using the same speed, hit the door with your fist. It will move much farther.

3. My 30-06 will change grouping by several inches if I go to a 150 grain bullet. If I use the 115 grain it is off by almost a foot. When you guys pick the weight of your bullet what do you use to determine the most effective weight for you to use? I assume that if I change weights my point of impact will vary dramaticaly.
A: Again this is physics. Gravity and bullet design will alter its flight. Ballisticians refer to these factors as ballistic coefficient and sectional density. Because of the 'lousy' ballistics of typical muzzleloader bullets as opposed to those of say a .308, 180 gr bullet and the burn rates of black powder vs nitro powder your POI will not be as dramatic by just changing bullet weight. However if you go from a 295 gr 50 cal Powerbelt, to a 240 gr 44 cal saboted bullet or 200 gr 45 cal saboted bulletyou will definately notice a change in POI.

4. It seem that 777 is the prefered powdercharge but are there other ones that are better. I have read a bit about 209h?
A: Muzzleloaders can be very finicky about the powders used in them as far as accuracy is concerned. Some will shoot 777, other Pyrodex RS or Pyrodex P, any of the other substitutes or FFg or FFFg black powder. Note: If you are using a flintlock, black powder should be the propellant of choice.

5. About how many rounds should I be expecting to shoot before my rifle settles into one that it likes.
A: Heck, you could get lucky and find the 'perfect' bullet/load combo your very first try. Or, you can shoot hundreds of shots before you find something your rifle likes. But IMO, that is part of the fun of shooting MLs.

Good luck